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KELOWNA:
January 09, all single family homes
currently for sale and not sold,
started at an average asking price of
$662,000, and are now reduced to
$640,000. The average asking price of
the single family homes that have
sold was $478,000, then reduced to
$444,000 and then sold for $411,591.
Only one lot sold last month on MLS.
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A kite
boarder by the Manteo Resort on Jan
31, 09 |
The Kelowna housing market has not been
immune to the economic slowdown in
Canada. Residential sales in January
were
mostly slow as buyers recover from their
holiday excesses and this year of
course, the added shoveling of snow
everyday. Sales were slow at the
beginning of the month but picked up
steam towards the end.
Today’s short-term conditions are
creating long-term opportunities. Buying
opportunities have not been this strong
in over a decade, with low interest
rates, broad selection and more
affordable prices. The homes are still
the same, the climate is still the same,
destination is still the same, the
outlook is bright, and there are
bargains to be had.
Now remember, nobody rings a bell
when prices hit the bottom and the
bottom is only evident after several
months of rising prices. Call us
with your wish list.
Great deals are not found, they are made!
Major
Cities Report
Victoria:
2009 housing market off with a 49% slow
down in activity over last year Jan. The
average price for single family homes
sold in Greater Victoria last month was
$526,148.
Vancouver: Home listings withdraw
while sales volumes in January were the
lowest for that month since the early
1980s with a 54% slow down in activity
over last year Jan. The benchmark prices
declined 10.9% to $489,007.
Kelowna:
Today’s short-term conditions are
creating long-term opportunities.
Calgary: Buyers will continue to
have choices and affordability in this
slower market with a 49% slow down in
activity over last year January. The average
price of a single family Calgary metro
home in January 2009 was $413,049.
Edmonton: Listing activity
increased in January. Average price for
a single family home in January was
$352,689. Sales were down 40% over last
year Jan.
Toronto: The average MLS selling
price dipped to $343,632. Sales were
down 48% over last year Jan. |
